State of Alaska Department of Revenue Sells 320 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

State of Alaska Department of Revenue trimmed its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,862 shares of the bank’s stock after selling 320 shares during the quarter. State of Alaska Department of Revenue’s holdings in Prosperity Bancshares were worth $818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PB. GAMMA Investing LLC lifted its holdings in shares of Prosperity Bancshares by 47.9% during the third quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after buying an additional 227 shares in the last quarter. CWM LLC lifted its holdings in shares of Prosperity Bancshares by 29.3% during the third quarter. CWM LLC now owns 7,803 shares of the bank’s stock worth $562,000 after buying an additional 1,766 shares in the last quarter. Creative Planning lifted its holdings in shares of Prosperity Bancshares by 17.2% during the third quarter. Creative Planning now owns 3,909 shares of the bank’s stock worth $282,000 after buying an additional 574 shares in the last quarter. NBC Securities Inc. lifted its holdings in shares of Prosperity Bancshares by 36.1% during the third quarter. NBC Securities Inc. now owns 6,004 shares of the bank’s stock worth $432,000 after buying an additional 1,594 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Prosperity Bancshares by 181.6% during the third quarter. Blue Trust Inc. now owns 859 shares of the bank’s stock worth $62,000 after buying an additional 554 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Transactions at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $81.44, for a total transaction of $40,720.00. Following the sale, the director now directly owns 113,815 shares in the company, valued at approximately $9,269,093.60. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leah Henderson sold 1,100 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $83.24, for a total value of $91,564.00. Following the sale, the director now owns 7,525 shares in the company, valued at approximately $626,381. This trade represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,600 shares of company stock worth $1,273,279. Insiders own 4.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PB. StockNews.com raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Barclays boosted their price target on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. UBS Group dropped their price target on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, December 26th. Stephens boosted their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Raymond James boosted their price target on Prosperity Bancshares from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Prosperity Bancshares Trading Down 0.1 %

Shares of NYSE PB opened at $77.97 on Friday. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 0.98 and a beta of 0.94. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75. The stock has a 50-day moving average price of $77.96 and a two-hundred day moving average price of $75.65.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. On average, sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 45.85%.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.